SOL needs to break this level to confirm the uptrend
SOL is headed towards critical resistance of $ 205; a breakout and its confirmation as support could help SOL move to its ATH levels.
- Key Assistance: $ 187
- Key Resistance: $ 205
SOL found solid support at $ 187 and is now targeting critical resistance at $ 205.
On the flip side, the SOL has formed a rising wedge, a bearish pattern, so it is best to be careful about the current price as a brief pullback is possible if the price falls below it.
Technical indicators
Trading volume: the volume will be maintained as SOL rises higher. That’s a good signal for the cops.
RSI: The RSI on the daily timeframe has crossed the 50 mark and is sloping upward, showing that momentum is increasing. A break above 58 will make a higher high confirming the uptrend.
MACD: The MACD in the daily timeframe has created a bullish cross and is turning up. Support the continuation of the uptrend.
Perspectives
The current trend is bullish but it is best to keep an eye on the current resistance at 205 and the bearish (rising wedge) pattern.
The bulls need to push the price above $ 205 to confirm the trend is bullish. A break in the wedge pattern could cause the price to experience a brief pullback.
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SOL needs to break this level to confirm the uptrend
SOL is headed towards critical resistance of $ 205; a breakout and its confirmation as support could help SOL move to its ATH levels.
- Key Assistance: $ 187
- Key Resistance: $ 205
SOL found solid support at $ 187 and is now targeting critical resistance at $ 205.
On the flip side, the SOL has formed a rising wedge, a bearish pattern, so it is best to be careful about the current price as a brief pullback is possible if the price falls below it.
Technical indicators
Trading volume: the volume will be maintained as SOL rises higher. That’s a good signal for the cops.
RSI: The RSI on the daily timeframe has crossed the 50 mark and is sloping upward, showing that momentum is increasing. A break above 58 will make a higher high confirming the uptrend.
MACD: The MACD in the daily timeframe has created a bullish cross and is turning up. Support the continuation of the uptrend.
Perspectives
The current trend is bullish but it is best to keep an eye on the current resistance at 205 and the bearish (rising wedge) pattern.
The bulls need to push the price above $ 205 to confirm the trend is bullish. A break in the wedge pattern could cause the price to experience a brief pullback.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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